UBER - Uber Technologies, Inc.

NYSE - NYSE Delayed Price. Currency in USD
37.04
-0.56 (-1.49%)
At close: 4:00PM EST
Stock chart is not supported by your current browser
Previous Close37.60
Open37.94
Bid36.95 x 3100
Ask37.04 x 3000
Day's Range36.92 - 37.94
52 Week Range25.58 - 47.08
Volume27,849,306
Avg. Volume30,284,982
Market Cap63.184B
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-2.95
Earnings DateFeb 05, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est44.00
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  • Phoenix delays Uber, Lyft fee increase until Supreme Court rules
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  • Benzinga

    Uber CEO Talks Kalanick, Zomato And Growth

    Uber's co-founder and ex-CEO Travis Kalanick sold nearly his entire stake in Uber by the end of 2019 as part of an "intensely personal decision" which the board of directors respects, Khosrowshahi said.

  • Is Uber Stock A Buy Right Now? Here's What Earnings, Charts Show
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    Is Uber Stock A Buy Right Now? Here's What Earnings, Charts Show

    Uber Technologies is a global company that is transforming the ride-sharing and meal delivery markets. After a much-hyped debut on May 10, Uber stock is one of the most watched IPO stocks today, but is Uber a buy right now in the current stock market? Uber is in the midst of a dramatic turnaround, as the company fights to turn a profit.

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    Baker proposes hiking Uber, Lyft fee to fund MBTA improvements

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    MarketWatch

    Amazon hits $200 billion mark beating Google and Apple to become world’s most valuable brand

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    Company News for Jan 22, 2020

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  • Benzinga

    Uber Freight Taps Amazon Alum Christenson To Run Europe

    In his first 24 hours on the job, the new head of Uber Freight Europe spoke about his responsibility to prioritize the digital brokerage's investments and achieve a balance between revenue growth and profitability. This morning, Wednesday, January 22, Uber Technologies Inc (NYSE: UBER) announced that Amazon veteran Tom Christenson has joined the company as regional general manager of Uber Freight Europe. "We've celebrated a number of milestones at Uber Freight over the last year – key among them was our expansion into the European market," said Lior Ron, Head of Uber Freight, in a statement.

  • Financial Times

    Indonesian unicorn to launch bumper fundraising

    FT subscribers can click here to receive Tech Scroll Asia by email. We are pleased to announce that Tech Scroll Asia is now free to read for new subscribers for 30 days. Mercedes here — the Lunar New Year is approaching in much of Asia but there’s certainly no slowing in activity.

  • Financial Times

    Can Uber find a solution to its endless cash burn?

    One big thing to start: Forensic experts hired by Jeff Bezos have concluded with “medium to high confidence” that a WhatsApp account used by Saudi Crown Prince Mohammed bin Salman was directly involved in a 2018 hack of the Amazon founder’s phone. Uber’s chief executive Dara Khosrowshahi passed through London earlier this week on his way to Davos. The stakes are high for him in the UK capital where Uber has been stripped of its London licence for a second time by the city’s transport regulator.

  • Judge dismisses defunct startup Sidecar's 2018 lawsuit against Uber
    Reuters

    Judge dismisses defunct startup Sidecar's 2018 lawsuit against Uber

    A federal judge in San Francisco dismissed a 2018 lawsuit brought against Uber by defunct startup Sidecar Technologies Inc, which pioneered on-demand ride-hailing. Sidecar went out of business in December 2015 and sold its assets to General Motors Co in 2016.

  • Uber Test Lets Some California Drivers Set Their Own Fares
    Bloomberg

    Uber Test Lets Some California Drivers Set Their Own Fares

    (Bloomberg) -- Uber Technologies Inc. is allowing some drivers in California to set their own rates, an effort to bolster the company’s argument that they’re independent workers and not employees.The feature is being tested across some airport routes “to preserve flexible work” for California drivers, a spokesman said. It’s the company’s latest tweak in response to Assembly Bill 5, which went into effect Jan. 1 and seeks to reclassify gig-economy workers as employees, entitled to benefits like sick days, and not independent contractors. Earlier this month, Uber tweaked the driver app to end flat-surge pricing, remove penalties for rejecting trips and display how much drivers can make on each trip.Drivers at Santa Barbara, Sacramento and Palm Springs airports will be able to increase their fares in 10% increments, to as much as five times the normal rate starting Tuesday. Uber will refine the feature in the coming weeks and, depending on the test results, could deploy it more broadly in the months ahead, the person said. The Wall Street Journal earlier reported on the fare test.California’s new labor law could upend the multi-billion-dollar operations built by Uber and other companies by leveraging on-demand labor. Uber, Lyft Inc., DoorDash Inc. and Postmates Inc. are championing a California ballot initiative to repeal the law while guaranteeing a minimum pay of $21 an hour and granting some benefits to drivers.Uber and Lyft analysts have flagged the law as an existential threat to the companies’ business models, citing costs that could increase by as much as 30%.Lyft President John Zimmer declined to comment on whether his company would emulate Uber’s move to allow drivers to set their own prices. “What’s happening in California is a big opportunity to think about how to combine the benefits of this new type of work with benefits that workers deserve,” he said in an interview on Bloomberg Television. “So we’re navigating that.”(Updates with Lyft president’s quote in the last paragraph.)\--With assistance from Candy Cheng and Jason Kelly.To contact the reporter on this story: Lizette Chapman in San Francisco at lchapman19@bloomberg.netTo contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, Molly Schuetz, Robin AjelloFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • Barrons.com

    WeWork’s Woes Have Rocked the Private Markets. That’s Great News for Uber.

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  • MarketWatch

    Uber is Morgan Stanley's top internet stock pick, stock rises

    Morgan Stanley analyst Brian Nowak named Uber Technologies Inc. his top internet stock pick for 2020 on Tuesday, writing that the company is showing profit improvements in both its ride-hailing and Uber Eats businesses. The stock is up more than 4% Tuesday. "The two-player U.S. rideshare market continues to be more profit-focused and we expect the decline in available private funding for cash-burning competitors (post-WeWork) to make the non-U.S. markets more rational," he wrote. On the food delivery side, Nowak expects market consolidation in the U.S. and a more rational approach to the company's footprint overseas. Uber announced Tuesday that it had divested its India food-delivery business. Uber's shares have gained 20% over the past month, as the S&P 500 has risen 3.1%.

  • TheStreet.com

    [video]Uber Needs to Curb Its U.S. and Latin American Market Share Losses

    Lyft has been gradually taking share from Uber in the U.S., while China's Didi has been gaining ground in Brazil and Mexico.

  • Uber Analysts Say India Food Unit Sale Ends ‘Dark Chapter’
    Bloomberg

    Uber Analysts Say India Food Unit Sale Ends ‘Dark Chapter’

    (Bloomberg) -- Uber Technologies Inc. rose as analysts said its decision to sell its India food delivery unit to local rival Zomato improves the outlook for the company eventually turning a profit.The $172 million deal to offload Uber Eats in India, which struggled to gain traction in a market largely dominated by local competitors, is being interpreted as another step toward meeting Uber’s goal of becoming profitable on an Ebitda basis in 2021.Newly public companies once regarded as unicorns have faced mounting pressure as investors turn their focus to profitability after years of prioritizing growth at any cost. Uber, for example, has slumped 20% since its initial public offering in May.Uber rose as much 3.6% on Tuesday, pushing the stock to its highest intraday since Aug. 13.Here is what analysts had to say:Wedbush, Ygal ArounianThe sale “ends a dark chapter for Uber Eats in India, which has struggled to gain share vs entrenched domestic competitors Zomato and Swiggy.” The domestic rivals together control roughly 80% of the food delivery market in India, Wedbush said.Moves like these will likely be more commonplace as Uber Chief Executive Officer Dara Khosrowshahi and his team further rationalize the company’s Uber Eats food delivery business.“Taking a step back, we believe investor optimism on Uber is starting to finally perk up after a dark period since the IPO last year.”Maintains outperform rating and price target of $45.New Street, Pierre Ferragu“This move is coherent with the strategy the company has highlighted various times, of pulling back in immature markets with the least potential for the firm to accelerate its pace towards profitability.”New Street sees food delivery likely evolving into a duopoly, like ride-sharing, though it could be a three-player market in some circumstances.“As international ride-sharing and food delivery markets mature, we expect Uber’s profitability to increase over time and reach 6% Ebitda margin in 2024.”SunTrust Robinson Humphrey, Youssef Squali“Uber has effectively converted an asset that was burning ~$20m/month into a 10% stake in the leading local food delivery player,” he said, citing a cash burn number from an article by the India Times.The deal was a “smart, strategic” move and “shows strong execution on the part of Uber management, who has said repeatedly that unless Uber is 1 or 2 in a given market, or on a clear trajectory to get there, it would exit that market.”It gives the firm “increased confidence” in the company’s ability to hit adjusted Ebitda profitability in fiscal 2021.Maintains buy rating and price target of $56.What Bloomberg Intelligence Says:“Uber’s sale of its Eats business in India makes sense, and echoes a similar step in South Korea as it cuts ties with unprofitable markets. Pulling out of India could kick up a 500 basis-point headwind to the Eats segment’s sales growth yet deliver a 10 percentage-point boost to its Ebitda margin, which remains substantially lower than those of peers such as Just Eat and Grubhub.”-Analyst Mandeep Singh-Click here for the research(Updates shares in fourth paragraph, adds Bloomberg Intelligence commentary.)To contact the reporter on this story: Andres Guerra Luz in New York at aluz8@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Scott SchnipperFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • MarketWatch

    Uber stock gains after sale of India food-delivery business

    Uber Technologies Inc. shares are up 1.7% in premarket trading Tuesday after the company disclosed that it had completed the sale of its India food delivery business to Zomato, a local player, for a 9.99% stake in the company and about $35 million in cash. "Given Zomato's recent valuation of $3.55 billion in the private markets, this would value the sale at roughly $355 million and ends a dark chapter for Uber Eats in India which has struggled to gain share vs. entrenched domestic competitors Zomato and Swiggy which together control roughly 80% of the food delivery market in India," Wedbush analysts Ygal Arounian and Daniel Ives wrote in a note to clients. They said that there are many markets in which Uber's management needs to determine whether it should exit due to the difficulties of becoming a market leader. Shares are up 12% over the past three months, as the S&P 500 has added 11%.

  • Uber Sells India Food Business to Zomato to Cut Losses
    Bloomberg

    Uber Sells India Food Business to Zomato to Cut Losses

    (Bloomberg) -- Uber Technologies Inc. will sell Uber Eats in India to local rival Zomato in a $172 million deal, according to a person familiar with the transaction, underscoring the ride-hailing giant’s effort to cut back on loss-making operations.Uber agreed to offload the business in return for 9.99% of the Indian startup, maintaining a foothold in one of the world’s fastest-growing internet arenas, the companies said in a statement. As part of the deal, the U.S. company will shutter operations but direct all restaurants, delivery companies and diners to Zomato. Neither company offered up financial details but the person said the value of the Zomato shares Uber gets is estimated at about $172 million. The Indian startup was last valued at $2.2 billion.The deal marks yet another leg in a wave of consolidation sweeping the food delivery sector. Uber, which is trading well below the price at its initial public offering, seeks to hive off money-losing businesses to achieve its goal of being profitable -- before taxes, interest, depreciation and amortization -- by 2021. While it will continue to vie with Ola -- also backed by SoftBank Group Corp. -- in ride-hailing, exiting the food business can help staunch bleeding in one of the most competitive markets in the region. SoftBank founder Masayoshi Son has impressed upon the companies within his massive portfolio the need to curtail excess and focus on the bottom line.“It is another proof point -- following our decision to exit Uber Eats South Korea in October 2019 -- of our commitment to take a hard look at Eats markets where we do not have a path to leadership,” said Nelson Chai, Uber’s chief financial officer, in a financial filing. “At least some of the investment that we would have otherwise made in India will now be redeployed to other countries we serve where we believe we have a clear path to No. 1 or No. 2.”Uber expects to see a gain of about $143 million, net of tax, as a result of the deal, according to the filing. The shares were up about 1.7% in premarket trading in New York Tuesday.Read more: Red-Hot Indian Online Food Arena Delivers its Second UnicornWhat Bloomberg Intelligence SaysUber’s sale of its Eats business in India makes sense, and echoes a similar step in South Korea as it cuts ties with unprofitable markets. Pulling out of India could kick up a 500 basis-point headwind to the Eats segment’s sales growth yet deliver a 10 percentage-point boost to its Ebitda margin, which remains substantially lower than those of peers such as Just Eat and Grubhub.\- Mandeep Singh, analystClick here for the research.Uber started its food-delivery business in India in 2017 with much fanfare and a huge marketing budget. The San Francisco-based company has since poured resources into the operations to lure users with bargain food deals delivered to the doorstep, but it’s pitted against competitors with powerful investors.Naspers-backed Swiggy and Zomato, backed by Jack Ma’s Ant Financial, now lead India’s food-delivery sector, which like elsewhere is showing signs of consolidation. Bangalore-based ANI Technologies Pvt, which owns the Ola ride-hailing brand, acquired the Indian unit of Foodpanda in December 2017 and also faces an uphill struggle against the two established players.Uber, whose shares are down 22% from their 2019 IPO price, said it will continue to expand its core Indian business after unloading Eats. Employees that lose their jobs as a result of the deal can reapply for other roles within the company, the person said.“India remains an exceptionally important market to Uber and we will continue to invest in growing our local rides business,” Uber Chief Executive Officer Dara Khosrowshahi said in the statement.(Updates with comments from CFO in fourth paragraph and adds early share trading.)\--With assistance from Saritha Rai.To contact the reporter on this story: Edwin Chan in Hong Kong at echan273@bloomberg.netTo contact the editor responsible for this story: Peter Elstrom at pelstrom@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • TheStreet.com

    Uber Experiments With Allowing California Drivers To Raise Prices

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  • Uber Aims at Divesting Indian Food Delivery Unit to Zomato
    Zacks

    Uber Aims at Divesting Indian Food Delivery Unit to Zomato

    Uber's (UBER) sale of its food delivery business in India aims at loss reduction to enable the company earn profits in terms of EBITDA by 2021.